Below are three possible investments that follow a 5-year time horizon:

1. Invest in a basic human resource information system:

• Cost: $300K
• Cash Flows: $150K each year for 5 years

2. Invest in a high-end human resource information system:

• Cost: $1 Million
• Cash Flows: $500K each year for 5 years

3. Invest in a talent acquisition function

• Cost: $500K
• Cash Flows: $250 K each year for 5 years.

Assume that you will pay for one of these projects by withdrawing funds from an account earning 8%. 1. Build a spreadsheet (e.g., using Google Sheets) that models the cash flows appropriately.

2. Calculate the NPV and IRR for each project.

3. Pick the project that you would fund and explain why you picked it.